Ron Dennis steps down at McLaren

Ron Dennis has officially stepped down as team boss at McLaren after weeks of speculation. Dennis was rumoured to be leaving the team, and this evening it was confirmed that he would be stepping down as team principal.

The Briton became team principal of McLaren in 1981 and oversaw so much success at the team. He stepped down at the end of 2008 but was brought back in at the start of 2014 after the departure of Martin Whitmarsh.

It is understood however, that Dennis will still hold a share in the team, as well as remaining on the McLaren Technology Group and McLaren Automotive Ltd boards.

Speaking about his departure, he said: "I am disappointed that the representatives of TAG and Mumtalakat, the other main shareholders in McLaren, have forced through this decision to place me on gardening leave, despite the strong warnings from the rest of the management team about the potential consequences of their actions on the business.

"The grounds they have stated are entirely spurious; my management style is the same as it has always been and is one that has enabled McLaren to become an automotive and technology group that has won 20 Formula 1 world championships and grown into an £850million a year business.

"Throughout that time I have worked closely with a series of talented colleagues, to whom I will always be extremely grateful, to keep McLaren at the cutting edge of technology."